Moody's assigns Ba3 to ChelPipe's debut eurobond

Moody’s Investors Service said it gave a Ba3 rating to the proposed loan participation notes to be issued by Chelpipe Finance DAC to finance a loan to Chelyabinsk Pipe Plant PJSC, or Chelpipe.

Moody's affirmed Chelpipe’s Ba3 corporate family rating and the Ba3-PD probability of default rating.

The notes will be secured by all amounts payable by ChelPipe to Chelpipe Finance under the loan agreement between the two companies and Chelpipe’s subsidiary Pervouralsk Pipe Plant JSC.

The outlook on both companies is stable.

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